German financial regulator fines Deutsche Bank 50,000 euros
Reuters
Published Mar 18, 2024 18:32
FRANKFURT (Reuters) - Germany's federal financial supervisory authority BaFin said on Monday it had imposed a fine of 50,000 euros ($54,340) on Deutsche Bank (ETR:DBKGn).
The fine relates to false information regarding a serious customer-related IT security incident in its payment services in 2023. Deutsche Bank was also "significantly late" in informing BaFin, the regulator said.
"Deutsche Bank has accepted a fine from BaFin relating to the improper reporting of an IT incident in June 2023, which was resolved within a very short time," a spokesperson for Deutsche Bank said.
"The bank immediately adapted its processes to prevent such an IT incident from happening again," the spokesperson added.
($1 = 0.9201 euros)
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Written By: Reuters
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